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The Manufacturing ISM Report On Business is published monthly by the Institute for Supply Management (ISM), the largest supply management organization in the world, as well as one of the most respected. Economic activity in the manufacturing sector expanded in April, and the overall economy grew for the 95th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
Manufacturing expanded in April as the PMI registered 54.8 percent, a decrease of 2.4 percentage points from the March reading of 57.2 percent, indicating growth in manufacturing for the eighth consecutive month.
ISM's New Orders Index registered 57.5 percent in April, which is a decrease of 7 percentage points when compared to the 64.5 percent reported for March, indicating growth in new orders for the eighth consecutive month.
ISM's Production Index registered 58.6 percent in April, which is an increase of 1 percentage point when compared to the 57.6 percent reported for March, indicating growth in production for the eighth consecutive month.
ISM's Employment Index registered 52 percent in April, a decrease of 6.9 percentage points when compared to the March reading of 58.9 percent, indicating growth in employment in April for the seventh consecutive month.
The delivery performance of suppliers to manufacturing organizations was slower in April, as the Supplier Deliveries Index registered 55.1 percent, which is 0.8 percentage point lower than the 55.9 percent reported for March.
The Inventories Index registered 51 percent in April, which is an increase of 2 percentage points when compared to the 49 percent reported for March, indicating raw materials inventories are growing in April.
ISM's Backlog of Orders Index registered 57 percent in April, a decrease of 0.5 percentage point from the 57.5 percent reported for March, indicating growth in order backlogs for the third consecutive month. Of the 88 percent of respondents who reported their backlog of orders, 29 percent reported greater backlogs, 15 percent reported smaller backlogs, and 56 percent reported no change from March.
Of the 18 manufacturing industries, 16 reported growth in April in the following order: Electrical Equipment, Appliances & Components; Textile Mills; Nonmetallic Mineral Products; Furniture & Related Products; Plastics & Rubber Products; Fabricated Metal Products; Printing & Related Support Activities; Machinery; Paper Products; Chemical Products; Food, Beverage & Tobacco Products; Primary Metals; Miscellaneous Manufacturing; Computer & Electronic Products; Petroleum & Coal Products; and Transportation Equipment. The only industry that reported contraction in April compared to March is Apparel, Leather & Allied Products.
Keywords: Automation, Manufacturing, Process Industries, Discrete Industries, Supply Management, PMI, ISM, ARC Advisory Group.